Nigeria’s two biggest labor unions, the Nigerian Labour Congress and the Trade Union Congress, have agreed to a new minimum wage of $44 per month after talks with the government, ending the threat of strikes. This new wage more than doubles the 30,000 naira minimum set in 2019. The decision comes as Nigeria faces a severe cost of living crisis, with inflation and a weakening currency impacting workers. NLC President Joe Ajaero expressed mixed feelings about the new minimum wage but emphasized the need to move forward. He further revealed that the next wage review will occur in three years. Following the agreement, the country’s President Bola Tinubu will send the proposal to parliament for approval. Last week, he requested $4 billion in additional spending to cover budget shortfalls and invest in infrastructure and renewable energy.
SOURCE: VOA NEWS
